John Pitts

Vice President for Government Relations, Public Affairs, and Social Impact @Affirm. Previously @Plaid and @CFPB. Views my own.

[John Pitts @PolicyPitts]

If I was a fintech or bank and needed to start learning the 1033 open banking rules like they were going to be the law of the land by Fall 2024 (heads up, they are), I would start here: https://t.co/O1MIBdXmiV

[John Pitts @PolicyPitts]

@AlexH_Johnson I mean I'm also ok with just doubling Affirm's market cap

[John Pitts @PolicyPitts]

@jgreze @TownAI @arampell @a16z @kirstengreen @ForerunnerVC @firstround @altcap @conviction Congrats man!

[John Pitts @PolicyPitts]

“When financial institutions are constantly understating and overstating risks for different cohorts of consumers, no one is well served.” https://t.co/uVbqVEp8VH

[John Pitts @PolicyPitts]

This one is for the deepest finreg policy wonk -- a modest proposal for a framework that facilitates an honest debate about what, exactly, "abusive" means in UDAAP. https://t.co/64731J8Xdu

[John Pitts @PolicyPitts]

@JHWeissmann @DCDPW Dude talk to your ANC Commissioner, works for me every time.

[John Pitts @PolicyPitts]

@Apple I don't care if the "prevailing condition" where I am is wind, the only default map I want to see is precipitation. I'm not Jack Aubrey.

[John Pitts @PolicyPitts]

The bank W is that the EO doesn’t require them to collect citizenship data. But the banks are gonna have to hold the L of a Republican administration granting new powers to the CFPB via Executive Order, a precedent I’m sure no Democratic President will happily pile on to.

[Eleanor Mueller @Eleanor_Mueller]

❗️A CFPB spox tells me it’s already moved forward with its portion of the EO — a sign it plans to wield its new authorities as aggressively as possible.

Officials today submitted a rule for review called “statement on ability to repay and immigration status,” the spox said. https://t.co/FFMzEDQ0ZP

[John Pitts @PolicyPitts]

@mattyglesias Funny, I don't remember the fury over him casting Liam Neeson to play canonically North African Ra's al Ghul in the first Batman movie

[John Pitts @PolicyPitts]

A rigorous enterprise risk assessment routinely takes six to eight months. The business decisions it is meant to inform are being made in days. How to close this gap, only in @theOpenBanker

[John Pitts @PolicyPitts]

Today is THE DAY for you to do 3 thing:
1. READ @theOpenBanker on stablecoin yield
2. WATCH the CLARITY markup in the Senate
3. REGISTER for the Open Banker Salon debate on stablecoin yield

https://t.co/DQpX8VKIqQ

[Todd Phillips @tphillips]

Here's my modest proposal for addressing the yield issue once it gets to the Senate floor: Let stablecoin issuers pay yield directly while complying with the same rules as banks.

https://t.co/0siAA5i05J

[John Pitts @PolicyPitts]

Register here: https://t.co/DQpX8VKIqQ

[John Pitts @PolicyPitts]

The first-ever Open Banker Salon (June 5, 2026) features a certain-to-be electric debate on the GENIUS Act. To whet your appetite, this week we are running two pieces on stablecoins by Salon participants. https://t.co/oMl55CQlRI

[John Pitts @PolicyPitts]

@JHWeissmann @Birdyword

[John Pitts @PolicyPitts]

@Affirm's first small-business sentiment survey is out! I'll have an analysis of what we found later this week, but you can find the key data here if you want to dyor: https://t.co/0pZthoaVGe

[John Pitts @PolicyPitts]

@mikulaja Either TD dealing with their 'hey that is a lot of money laundering' consent order or someone who has been brilliantly boring since 1865

[John Pitts @PolicyPitts]

I'm incredibly excited to announce that @theOpenBanker will be holding its first Salon, June 5 in Washington DC. Think of it as a live version of the financial policy debates you love from our op-ed pages. You can register here: https://t.co/Gkw397mr5z

[John Pitts @PolicyPitts]

"[B]anks’ statements about customer profitability are meaningless without understanding how they allocate costs." https://t.co/ZiFWrI8upr

[John Pitts @PolicyPitts]

For the 15 of you closely following the issue: Iowa remains opted-out of DIDMCA, but just raised the state interest rate cap to 36%, making the opt-out essentially moot for any responsible lender: https://t.co/DF6oI1N4Vt